StoneCo Ltd. $STNE Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in StoneCo Ltd. (NASDAQ:STNE - Free Report) by 15.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,487,804 shares of the company's stock after selling 614,802 shares during the period. Geode Capital Management LLC owned 1.22% of StoneCo worth $55,944,000 at the end of the most recent reporting period.

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Several other large investors have also modified their holdings of STNE. CWM LLC grew its stake in shares of StoneCo by 327.4% during the 1st quarter. CWM LLC now owns 3,154 shares of the company's stock valued at $33,000 after buying an additional 2,416 shares during the period. Avantax Advisory Services Inc. boosted its holdings in StoneCo by 5.2% in the first quarter. Avantax Advisory Services Inc. now owns 77,562 shares of the company's stock valued at $813,000 after purchasing an additional 3,850 shares during the last quarter. XTX Topco Ltd raised its position in shares of StoneCo by 93.5% in the 1st quarter. XTX Topco Ltd now owns 162,380 shares of the company's stock valued at $1,702,000 after purchasing an additional 78,481 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of StoneCo during the 1st quarter valued at approximately $128,000. Finally, PNC Financial Services Group Inc. grew its holdings in StoneCo by 18.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,473 shares of the company's stock worth $89,000 after acquiring an additional 1,317 shares in the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on STNE shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of StoneCo in a research report on Wednesday, October 8th. Zacks Research upgraded shares of StoneCo to a "strong-buy" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group lifted their price objective on shares of StoneCo from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, October 14th. Wall Street Zen cut StoneCo from a "buy" rating to a "hold" rating in a report on Monday, October 27th. Finally, Bank of America raised their target price on StoneCo from $15.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, StoneCo has a consensus rating of "Moderate Buy" and an average target price of $17.21.

• StoneCo Stock May be Basing Like a Rock

Read Our Latest Stock Report on StoneCo

StoneCo Price Performance

NASDAQ STNE opened at $15.08 on Tuesday. The stock has a market capitalization of $4.31 billion, a PE ratio of -27.93, a price-to-earnings-growth ratio of 0.29 and a beta of 2.01. StoneCo Ltd. has a 12-month low of $7.72 and a 12-month high of $19.95. The company has a 50 day moving average price of $17.99 and a two-hundred day moving average price of $15.92. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.72.

• StoneCo Ltd. Stock is in Turnaround

StoneCo (NASDAQ:STNE - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.43. The firm had revenue of $669.49 million during the quarter, compared to analysts' expectations of $669.81 million. StoneCo had a positive return on equity of 20.18% and a negative net margin of 7.28%. As a group, equities analysts predict that StoneCo Ltd. will post 1.16 earnings per share for the current fiscal year.

About StoneCo

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.

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